AxoGen, Inc. (AXGN) Price Target Raised to $26.00 at Lake Street Capital
AxoGen, Inc. (NASDAQ:AXGN) had its price target increased by Lake Street Capital from $22.00 to $26.00 in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.
AXGN has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed a buy rating and issued a $18.00 price objective on shares of AxoGen in a research note on Monday, August 21st. Leerink Swann upped their price objective on shares of AxoGen from $23.00 to $26.00 and gave the company an outperform rating in a research note on Thursday, November 2nd. Roth Capital reaffirmed a buy rating and issued a $21.00 price objective (up previously from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. BidaskClub cut shares of AxoGen from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Finally, Wedbush reaffirmed a buy rating and issued a $27.00 price objective (up previously from $22.00) on shares of AxoGen in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $24.40.
Shares of AxoGen (AXGN) opened at $26.05 on Tuesday. AxoGen has a 12 month low of $8.05 and a 12 month high of $26.45. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The company had revenue of $16.05 million during the quarter, compared to analysts’ expectations of $15.55 million. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. equities analysts expect that AxoGen will post -0.33 EPS for the current fiscal year.
In related news, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $18.00, for a total transaction of $290,574.00. Following the completion of the sale, the director now directly owns 43,273 shares in the company, valued at approximately $778,914. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Guido J. Neels sold 1,150,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $19.74, for a total transaction of $22,701,000.00. The disclosure for this sale can be found here. Corporate insiders own 9.33% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. raised its holdings in AxoGen by 575.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 5,750 shares during the last quarter. Bank of America Corp DE raised its holdings in AxoGen by 8.7% during the 1st quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after buying an additional 814 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in AxoGen by 0.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 93 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in AxoGen during the 2nd quarter valued at $201,000. Finally, Valeo Financial Advisors LLC bought a new stake in AxoGen during the 3rd quarter valued at $244,000. Institutional investors own 67.89% of the company’s stock.
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AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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